SG Americas Securities LLC Sells 63,055 Shares of Apogee Therapeutics Inc. $APGE

SG Americas Securities LLC lowered its position in Apogee Therapeutics Inc. (NASDAQ:APGE) by 86.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,207 shares of the company’s stock after selling 63,055 shares during the quarter. SG Americas Securities LLC’s holdings in Apogee Therapeutics were worth $859,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the business. Rockefeller Capital Management L.P. bought a new position in Apogee Therapeutics during the fourth quarter worth about $25,000. Avoro Capital Advisors LLC acquired a new position in shares of Apogee Therapeutics in the 4th quarter worth approximately $37,740,000. Seven Fleet Capital Management LP acquired a new position in shares of Apogee Therapeutics in the 4th quarter worth approximately $136,000. T. Rowe Price Investment Management Inc. lifted its position in shares of Apogee Therapeutics by 189,522.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,732,456 shares of the company’s stock worth $206,246,000 after buying an additional 2,731,015 shares during the period. Finally, Invesco Ltd. boosted its stake in Apogee Therapeutics by 142.6% in the 4th quarter. Invesco Ltd. now owns 70,687 shares of the company’s stock valued at $5,335,000 after buying an additional 41,549 shares in the last quarter. 79.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Apogee Therapeutics

In other Apogee Therapeutics news, insider Carl Dambkowski sold 5,500 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $132.74, for a total value of $730,070.00. Following the completion of the sale, the insider owned 177,873 shares in the company, valued at approximately $23,610,862.02. This trade represents a 3.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Thomas Henderson sold 80,000 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $132.54, for a total transaction of $10,603,200.00. Following the completion of the transaction, the chief executive officer directly owned 1,015,987 shares of the company’s stock, valued at approximately $134,658,916.98. This represents a 7.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 182,900 shares of company stock worth $20,690,585. Insiders own 24.30% of the company’s stock.

Apogee Therapeutics Stock Performance

Shares of APGE opened at $132.91 on Monday. The company has a market cap of $8.23 billion, a price-to-earnings ratio of -30.70 and a beta of 0.32. The stock has a fifty day moving average price of $93.59 and a two-hundred day moving average price of $82.06. Apogee Therapeutics Inc. has a 52-week low of $34.34 and a 52-week high of $133.85.

Apogee Therapeutics (NASDAQ:APGE) last announced its earnings results on Monday, May 11th. The company reported ($1.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.07) by $0.01. As a group, research analysts predict that Apogee Therapeutics Inc. will post -4.45 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on APGE shares. Stifel Nicolaus reiterated a “hold” rating and issued a $135.00 price target (up from $133.00) on shares of Apogee Therapeutics in a research report on Wednesday, June 24th. TD Cowen downgraded shares of Apogee Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. UBS Group downgraded shares of Apogee Therapeutics from a “buy” rating to a “neutral” rating and boosted their target price for the company from $100.00 to $135.11 in a research note on Tuesday, June 23rd. Rothschild & Co Redburn assumed coverage on shares of Apogee Therapeutics in a research report on Friday, May 1st. They set a “buy” rating and a $140.00 target price for the company. Finally, Truist Financial cut their price target on shares of Apogee Therapeutics from $83.00 to $81.00 and set a “hold” rating for the company in a report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $121.25.

Apogee Therapeutics Company Profile

Apogee Therapeutics, Inc is a clinical-stage biotechnology company dedicated to the discovery and development of novel small molecule therapeutics that selectively target the nuclear receptor RORγt, a master regulator of T cell-driven inflammatory pathways. By modulating RORγt activity, Apogee aims to offer an oral treatment option for patients with autoimmune and inflammatory skin disorders.

The company’s lead candidate, APG-157, is an oral RORγt inverse agonist currently undergoing early-stage clinical evaluation for moderate to severe plaque psoriasis.